March 28, 2018 / 5:16 AM / 4 months ago

BRIEF-Aroundtown SA to propose dividend of 0.23 eur a share​

March 28 (Reuters) - Aroundtown Sa:

* ‍AROUNDTOWN SA ANNOUNCES ITS FY 2017 RESULTS WITH RECORD PROFITABILITY AND OUTSTANDING PERFORMANCE​

* ‍RENTAL AND OPERATING INCOME OF EUR527 MILLION, INCREASED FROM EUR274M IN 2016​

* ‍ADJUSTED EBITDA UP 60% TO EUR429 MILLION FROM EUR268 MILLION​

* ‍FFO I PER SHARE GROWTH OF 44% TO EUR0.36 FROM EUR0.25 IN 2016​

* ‍2017 DIVIDEND DISTRIBUTION OF EUR0.23 (SUBJECT TO AGM APPROVAL), UP 44% YOY​

* ‍NET PROFIT RECORDED OF OVER EUR1.5 BILLION, INCREASED 71% FROM EUR0.9 BILLION FOR 2016​

* ‍BASIC EARNINGS PER SHARE UP TO EUR1.56, DILUTED EPS UP TO EUR1.35​

* ‍EPRA NAV INCL. PERPETUAL NOTES OF EUR7.7 BILLION AND EUR7.6 PER SHARE (UP 41%)​

* ‍FURTHER INCREASED TO EUR8.7 BILLION INCL. Q1 2018 EQUITY AND PERPETUAL ISSUANCES​

* ‍EPRA NAV OF EUR6.5 BILLION AND EUR6.5 PER SHARE (UP 33%)​

* ‍EQUITY INCREASED 84% TO EUR7.2 BN, STRONG EQUITY RATIO OF 53%; FURTHER INCREASED TO EUR8.3 BILLION PRO FORMA FOR MARCH 2018 EQUITY INCREASE​

* ‍INVESTMENT PROPERTY ALMOST DOUBLED TO EUR9.8 BILLION FROM EUR5 BN AT YEAR-END 2016​

* ‍LTV FURTHER DECREASED TO 36% AS OF YEAR-END 2017; 33% ASSUMING CONVERSION​

* ‍AROUNDTOWN’S ( “COMPANY” OR “AT”) RECORD PROFIT OF OVER EUR1.5 BILLION IN 2017​

* ‍AROUNDTOWN CONTINUES IN 2018 WITH ITS STRONG GROWTH PATH, BRINGING PORTFOLIO SIZE TO EUR10.2 BILLION WHICH GENERATES AN FFO I ON AN ANNUALIZED BASIS AS OF APRIL 2018 OF EUR369 MILLION​

* ‍COMPANY ISSUED SINCE JANUARY 2018 A TOTAL OF EUR2.1BN IN EQUITY, PERPETUAL NOTES AND STRAIGHT BONDS, SUPPORTING ADDITIONAL GROWTH AS WELL AS FURTHER OPTIMIZING DEBT STRUCTURE​ Source text for Eikon: Further company coverage:

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